Pension data for Manu Services Inc. include the following:…
Pension data for Manu Services Inc. include the following: Discount rate [x]% Expected return on plan assets [y]% Actual return on plan assets [z]% Service cost, 2023 [a] Accumulated benefit obligation 1/1/23 [b] Projected benefit obligation 1/1/23 [c] Plan assets (fair value) 1/1/23 [d] Prior service cost–AOCI 1/1/23 [f] Net gain–AOCI 1/1/23 [g] 2023 Cash contributions to pension fund [h] 2023 Benefit payments to retirees [i] On average, employees’ remaining service life with the company is 10 years When recording the pension expense for 2023 for Manu, Plan Assets will be debited for $_________
Read DetailsOn January 1, Oil Trading Co.’s defined benefit pension plan…
On January 1, Oil Trading Co.’s defined benefit pension plan had plan assets with a fair value of $850,000, and a projected benefit obligation of $775,000. In addition: Actual and expected return on plan assets – [x]% Interest cost – [y]% Service costs – $[a] Unamortized prior service cost – $[w] Employer contributions to the plan – $[b] Distributions to employees from the plan – $[c] Assuming that amortization of prior service cost is $[d], how much will Oil Trading Co. recognize as pension expense for current year?
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